May 7 (SeeNews) - Bulgarian businessman Krassen Kralev has bought the controlling stake in local Internet media service provider Web Media Group [BUL:45W], a website from its portfolio reported.
Krassen Kralev, who is also the president of Bulgarian advertising company MAG Communications, acquired the media platform following series of negotiations at the end of last month, online news portal news.bg said on Friday.
As many as 1.23 million shares in Web Media Group, equivalent to 86.8% of its capital, changed hands on the Bulgarian Stock Exchange on Friday, bourse data showed. The stock was traded at 1.2 levs ($0.8/0.6 euro), a price six times higher than the previous close.
Web Media Group owns several websites including news.bg, topsport.bg, money.bg and finance.news.bg.
(1 euro=1.95583 Bulgarian levs)